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Green Thumb Industries Inc. (CSE:GTII) (OTCQX:GTBIF), a leading national cannabis consumer packaged goods company and owner of RISE Dispensaries, announced its Q3 2023 financial results, which ended September 30, 2023.
“I’m pleased to report that our team delivered a great third quarter, including record revenue of $275 million and GAAP net income of $11 million or $0.05 per basic and diluted share. Adjusted EBITDA was $83 million or 30% of revenue. Nine-month cash flow from operations was $154 million and we ended the quarter with a strong balance sheet including $137 million in cash, net of the share buyback,” said Green Thumb founder, chairman, and CEO Ben Kovler.
Furthermore, the company repurchased $25 million worth of shares during the quarter, representing over 1% of shares outstanding.
"Our obsessive focus on operational efficiency, working capital management, and cash flow generation has allowed us to continue to generate strong revenue and profitability performance despite continued macro-economic and pricing headwinds in some of our markets,” concluded Green Thumb president Anthony Georgiadis.
Price Action: GTBIF shares were trading up 0.54% at $9.25 per share on Wednesday afternoon.
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Image by El Planteo